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.s. infrastructure and whether we should spend money to fix it. >> number five, china. for sure by 2030. >> china. >> china getting more than a few mentions during the presidential campaign probably because it's clear they are both a competitor and a partner. >> number four, europe. the european union was fractured by too much debt and the austerity plans to fix it. that saga is far from over. number three, the housing market. finally bottomed out. the combination of low home prices and continued record low mortgage rates set off a building and buying spree. they bought entire neighborhoods, but first time buyers got a home of their own as long as they had a hefty down payment. >> number two. >> cnn projects that barack obama will be reelected president of the united states. >> the election. more than just about obama and romney, it was about socialism and capitalism and spending and cutting and what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politi
pickpocket. >>> number four, big trouble in communist china. everybody thought one of the most powerful politicians in china party chief boojili was getting rid of crime and corruption till this summer when a court convicted his wife of murdering a british business man and the government accused him of trying to hinder the investigation as well as taking bribes and abusing his power. now he's been kicked out of the communist party. leaders voted to expel him in november number three, a service becomes not so secret. the role of protecting the president when he trabs abroad has moments of glamour and excitement. that included hookers for some is secret service agents and military personnel visiting cartagena in advance of the president's arrival last april. it won't have bothered colombian authorities since prostitution sgs legal there. local police only got involved because of a hotel altercation between a woman and a secret service agent over the payment. number two, it's been called the building that never sleeps but the bbc's london headquarters says it was completely unaware of the
and china open and australia only half a day. so you will get a muted response, but don't for get that we have really got one more day of this, right. there is not going to be a deal tonight, because it is not dramatic enough, and they have to let it go another day, and the markets might get a little bit of a breather, but trust me, as tomorrow goes, and as trading get starts and the day wears on and appears that we are getting nothing, you will start to see the pressure on the market as we move into the end of the day. like i said on the prior show, if we get a band-aid, that is worse than getting actually letting us go over the cliff. >> why? >> because i think that if we go over the cliff, then there is clarity and everybody knows what happens, taxes here and spending there, and the only thing that can happen after that is that it can improve because the legislators will talk about cutting the taxes and raising the spending and standing up to say, what a great job we did and pat themselves on the back. if we get a band-aid, all we have done is to cause more confusion and kicked the can
china is doing not as well, brazil isn't, india, europe's at a standstill. we can't afford this. it's that intangible that's more serious than how much you pay in taxes in 2013. >> before you go, how do you think the markets refact there's a stopgap measure? are they going to fear that more than if there was a permanent deal? >> markets hate uncertainty. that's the one thing. if we've got a stopgap measure, do we have a sense of when it will be resolved? some say go over the cliff, let's see what that looks like. i'd bo worried about that. we had a drop-off in the market on friday and that's about investors being uncertain about monday morning. i'll keep my eyes close to the markets on sunday night when asian markets open and monday when we have a shortened trading day. if washington doesn't get its act together, the investors may send a strong message to washington to do something. >> ali velshi, thank you. >>> you can learn more about the fiscal cliff and other issues that are affecting your money at 1:00. ali velshi will be back with a live edition of "your money." that's on cnn.
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